Units-of-activity Depreciation A truck acquired at a cost of $300,000 has an estimated residual value of $18,000, has an estimated useful life of 40,000 miles, and was driven 3,600 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate (c) The units-of-activity depreciation for the year 282,000 0.4 X per mile 3,384 Depreciable cost is the difference between the asset's initial cost and its residual useful life value. The residual value is the estimated value at the end of the Annual production depreciation allocates the cost of the asset equally over the expected productive capacity